Bengaluru's Most Promising Real Estate Opportunity
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Bengaluru’s most promising real estate opportunity Content Residential Micro-markets in Bengaluru The Exceptional Rise of Devanahalli -Bengaluru’s New Commercial Hub An Ideal Investment Opportunity Park Cubix, Devanahalli—Nurturing Every Facet of Life Residential micro markets in Bengaluru The housing market in Bengaluru has been clocking steady growth and positive customer sentiments fuelled by rising commercial activities, infrastructure development, and increasing job opportunities particularly in the IT and ITeS industries and in the booming start-up sector. While the city’s macro housing market has stayed stable, micro-markets are urban pockets of promise and uncovering the potential of such micro-markets is important when deciding to invest in property. Changing prospects and new micro-markets Traditionally successful micro-markets in Bengaluru such as Sarjapur Road, Whitefield, Kanakapura Road and Electronic City Phase 1 are now reaching a saturation point. Areas such as Sarjapur Road and Whitefield, that until recently recorded the maximum supply of housing units, already have several projects that are under construction. Hence, they are being surpassed by North Bengaluru. Of the housing units launched in the first quarter of 2018, North Bengaluru took the largest share of 58%. Devanahalli, Doddaballapur Road, and Nelamangala were the areas that clocked the maximum new supply. ZONE - WISE SUPPLY IN BENGALURU (Q1 2018) West East 1% 2% South 39% North 58% The future of real estate is in North Bengaluru The value of property in North Bengaluru is on an upswing and several experts approve of it as a long-term investment option. Being a stone’s throw from the Kempegowda International Airport, well-connected to the Central Business District and accessible via the Outer Ring Road (ORR) make it an exciting area. Therefore, it is no surprise that several big-ticket infrastructure initiatives are panning out in North Bengaluru. Prominent office areas such as the Manyata Business Park, Kirloskar Tech Park, and Peenya are located in North Bengaluru. In tandem, the area has grown in its social infrastructure, be it reputed schools and colleges, healthcare centres like Aster CMI Hospital for Cancer, Columbia Asia Hospital, Medi Derma, and Regal Hospital, or well-known malls. The greenery of North Bengaluru and its well- maintained lakes such as Hebbal Lake, Jakkur Lake, and Nagawara Lake add to its charm. With affordable housing prices compared to other parts of Bengaluru that are expected to appreciate in coming years, North Bengaluru is a growing market. And within it, the suburb of Devanahalli is most promising. Devanahalli: A micro-market poised for growth Devanahalli is fast emerging as a top choice for investors and buyers looking at new viable micro-markets. Devanahalli was placed on the map with the establishment of Kempegowda International Airport—the international airport serving Bengaluru and the third-busiest airport by passenger traffic in the country. It is a micro-market experiencing growth across all parameters. Boosting Real Estate in Devanahalli New residential projects Developing as a hub for industry Several infrastructure projects in the pipeline Development plans led by both the government and private entities • New • Developing as residential a hub for projects industry • Several • Development infrastructure plans led by projects in the government & pipeline private entities The Exceptional Rise of Devanahalli - Bengaluru’s New Commercial Hub An area that was dominated by empty tracts of land around a decade ago, Devanahalli has seen unprecedented growth since the opening of the Kempegowda International Airport. Moreover, upcoming commercial and industrial infrastructure projects have further contributed to transforming Devanahalli. I. Multi-modal Connectivity Well-connected to the main city centres via the NH-7 and Bellary Road which has been widened to a six-lane highway. Regular Bengaluru Metropolitan Transport Corporation [BMTC] bus services through Devanahalli. AC and non-AC buses connecting Devanahalli to major hubs such as Majestic, Marathahalli, and Banashankari. Devanahalli Railway Station (South Western Railway zone of the Indian Railways) is linked to Bengaluru City, Bengaluru Cantonment, Yelahanka, and other stations. Devanahalli Railway Well-connected to the Regular Bengaluru Station linked to main city centres via the Metropolitan Transport Bengaluru and other NH-7 and Bellary Road Corporation bus services stations Upcoming six-lane Part of the construction of Satellite Tolled Ring Road Phase 2 of Bengaluru’s (STRR) to connect Namma Metro network Devanahalli to Bengaluru city Devanahalli is part of the construction of Phase 2 of Bengaluru’s Namma Metro network that will connect the Kempegowda International Airport to central Bengaluru. Estimated to be complete by 2021, almost 1.2 lakh passengers are expected to use the airport metro every day. The planned 29.62 km metro extension to the international airport will start at Nagawara and include stops at Hegde Nagar, Jakkur, Kogilu Cross, Chikkajala, Trumpet Interchange, KIA cargo complex, and the current terminal This project aims to ease the traffic on the Hebbal flyover and Bellary Road The upcoming six-lane Satellite Tolled Ring Road (STRR) will connect Devanahalli to Bengaluru city as well as other key hubs such as Doddaballapur, Dobbspet, Hosakote, and Hosur. This is being executed by the National Highways Authority of India (NHAI) under the Bharatmala project and is expected to be completed in two years The STRR that will drastically reduce traffic on Outer RingRoad (ORR) The total length of the STRR will be 140 km in Karnataka and 45 km in Tamil Nadu Work has already commenced on the Dobbspet-Doddaballapur stretch II. A Centre for Industry and Commerce Many special economic zone (SEZ) projects by the government are providing an impetus to commercial and employment opportunities in Devanahalli. The Aerospace SEZ in Devanahalli has been collaboratively developed with the US Aerospace Supplier Development Mission. Growing into a key hub for aerospace manufacturing. Introduced several aerospace companies and global original equipment manufacturers (OEMs) to the region Brought in a large amount of investment to Karnataka. Multiple Special Economic Zone (SEZ) projects Growing into a key hub for aerospace manufacturing Information Technology enabled services & Biotechnology project Global Financial District The exciting Information Technology enabled services & Biotechnology (ITIR) project is slated to be ready by 2020 as India’s largest IT region spreadacross 12,000 acres. It will potentially create 1.2 million employment opportunities and 2.8 million indirect employment opportunities. The biggest IT companies including Wipro, TCS, and Infosys will be a part of the ITIR. A global financial district is also underway in Devanahalli, planned to offer competition to the Gujarat International Finance Tec-City. III. Supportive Social Infrastructure Devanahalli already boasts a well-established network of social infrastructure Quality schools, hospitals, and retail and convenience outlets Prominent Schools: Canadian International School, Akash International School, and Ryan International School World-class healthcare: Columbia Asia Hospital, Akash Hospital, Leena Multispeciality Shopping Centres: World Market Mall, Elements Mall, Esteem Mall A multitude of recreational spaces ideal for leisure and weekend breaks Devanahalli Fort Nandi Hills Lumbini Gardens amusement park, Nagawara Lake Hebbal Lake, Jakkur Lake Quick and easy access to social infrastructure in prime locations Whitefield, Hebbal, Yelahanka, Sadashivnagar, Yeshwantpura, New BEL Road, Sahakar Nagar, Sanjay Nagar Quality schools, hospitals, and retail and convenience outlets Multitude of recreational spaces ideal for leisure and weekend breaks Quick and easy access to social infrastructure in prime locations An Ideal Investment Opportunity As Devanahalli develops into a satellite city to Bengaluru, its proximity to the city’s IT Hubs as well as industrial clusters further enhances its appeal. But it is not just in being well-linked to Bengaluru and its bustling promise—Devanahalli is fast evolving into a commercial and industrial centre in its own right. Proximity to the international airport This is an unmatched advantage that will always stay high-value. Furthermore, work on the second runway and Terminal 2 (T2) of the airport is well underway. Bengaluru International Airport Limited (BIAL)—the operator of Kempegowda International Airport—has confirmed that the second runway is expected to be operational in 2019. As per BIAL, once both phases of T2 are completed, the airport would have an overall capacity of 65 million. As Namma Metro’s proposed Phase 2 gets completed—linking Bengaluru to the Kempegowda International Airport—mobility to the area will improve further, giving a fillip to development and commerce. As the proposed ITIR project and financial district develop, the value of real estate in Devanahalli will continue to appreciate.commerce. Moreover, the demand for residential projects close to these commercial clusters and employment giants will also soar. It is a location that is being keenly tracked by investors. The potential return on investment is enormous given that Devanahalli continues to grow with several infrastructure projects in the pipeline. The ideal time to invest in Devanahalli and reap dividends is now. Park Cubix, Devanahalli: Nurturing Every Facet of Life With an eye